In this article, you will find out more about Stamp Duty Land Tax (SDLT), and when you can claim relief. (3 minute read) We will cover: When to claim Stamp Duty relief according to government guidelines How buyer status affects tax and surcharge amounts Introduction Homeowners purchasing properties are liable to pay HMRC Stamp Duty… Read more »
Posts Tagged: Tax
Pros and Cons of Being VAT Registered
Wondering what are the pros and cons of being VAT registered? Read our article to find out more about what is means to register your business for VAT. (5 minute read) Today’s tip will cover: Pros and cons of being VAT registered Important guidelines for registering to the HMRC Introduction Have you ever wondered if… Read more »
Tax on Divorce: Government to Relax Legislation
The government is due to relax CGT on divorce, giving couples more time to make property transfers. (3 minute read) Today’s tip will cover: When you pay CGT on divorce How changes to legislation will impact property transfers during divorce CGT on Divorce Divorce is not easy, and there are many issues to be concerned… Read more »
Gifting Investment Properties: An Inheritance Tax Top Tip
Gifting investment properties might seem like an easy choice to lower your IHT, but it could be costlier than you think. (3 minute read) Today’s tip will cover: Why gifting investment properties can be tax inefficient How to pass on property whilst lowering Inheritance Tax Approaches to IHT Planning There are lots of ways to… Read more »
Salary Sacrifice Pension Pitfall: Your Car Could Cost You £30,000
Leasing a car could be a salary sacrifice pension pitfall that decimates your pension. Here’s what you can do about it. (3 minute read) Today’s top tip will explain: What a Salary Sacrifice Agreement is How leasing a car can decimate your pension How to avoid the tax trap and enjoy more of your pension… Read more »
Reclaiming VAT: What Can’t You Claim?
Many VAT registered businesses try to claim back all their expenses. Unfortunately, reclaiming VAT isn’t that simple. Let’s run through what you can’t reclaim. (3 minute read) Today we’ll be discussing: VAT incurred overseas Blocked input VAT VAT on exempt supplies VAT on private expenditure VAT Incurred Overseas Businesses with overseas dealings generally face more… Read more »
The HMRC SDLT Calculator’s Fatal Flaw: You Could Be Owed THOUSANDS
The HMRC SDLT calculator is critically unreliable, resulting in yearly SDLT overpayments of £2 billion. Up to four in ten SDLT returns effected! (5 minute read) Today we’ll be discussing: What SDLT is Why the HMRC SDLT calculator get it so wrong How to find out if you overpaid What is SDLT? Stamp Duty Land… Read more »
Stamp Duty: 4 Top Tips for Landlords
SDLT is one of the most intricately legislated areas of tax law, and Stamp Duty rates vary drastically. Today we’ll be sharing our top tips to help you save like a Tax Expert. (5 minute read) Today we’ll be discussing: Reducing your SDLT rates Avoiding the 3% additional property surcharge Making the most of reliefs… Read more »
Tax On Buy-to-let Property: Personal or Company?
Tax on buy-to let properties is often the deciding factor for whether to hold property personally or via a company. Let’s go over the differences so you can make an informed choice. (3 minute read) Today we’ll be discussing: How tax on buy-to-let properties differs between personal and company property How to get the lowest… Read more »
Uniform Allowance HMRC
Your staff uniforms could be causing you to breach minimum wage rules. Here’s why (and how to comply). Find out about the Uniform Allowance HMRC provides. (4 minute read) In today’s top tip: How HMRC assess whether you’re paying appropriate wages Why staff uniforms can cause problems How to avoid breaking wage regulations Minimum Wage… Read more »